
Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Coronavirus updated India: The risk of coronavirus has been reduced a lot in India. In the last 2
All five people aboard the missing submarine died in the North Atlantic. A wreckage of the missin
'Anupama' fame actor Gaurav Khanna has won 'Bigg Boss 19'. He entered Bigg Boss late, but made a
The application process for the National Eligibility cum Entrance Test - Undergraduate (NEET UG 2
Former Union Minister and senior BJP leader and MP Prakash Javadekar said that Prime Minister Nar
Nepal's President refuses to approve citizenship bill, invites constitutional crisis
Nepal's President Bidya Devi Bhandari refused to ratify the Citizenship Bill. The decision has be
Petrol Diesel Price: Oil companies have released the prices of petrol and diesel for today. Today
Even though Pakistan is happy with the coming of Taliban rule in Afghanistan, but it may have to
After the Legislative Assembly seats with Jatland and dominant Muslim votes, now Samajwadi Party
According to a report by ESPN Cricinfo, 7 out of 8 IPL teams have retained their players for the